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Question

When the PFRDA finds a person violating the provisions of the PFRDA Act it____________

A May pass an order requiring such person to cease and desist from committing or causing such violation Correct Answer Incorrect Answer
B May impose a penalty of one lakh rupees for each day during which the failure continues or one crore rupees, whichever is less Correct Answer Incorrect Answer
C May impose a penalty of one lakh rupees for each day during which the failure continues or one crore rupees, whichever is more Correct Answer Incorrect Answer
D May impose a penalty of one lakh rupees for each day during which the failure continues or five times the number of profits made or losses avoided, whichever is higher Correct Answer Incorrect Answer
E Either c or d Correct Answer Incorrect Answer

Solution

Section 18. Power of Authority to ensure compliance: If the Authority finds, after causing an inquiry to be made, that any person has violated, or is likely to violate, any provisions of this Act, or any rule or regulation made thereunder, the Authority may pass an order requiring such person to cease and desist from committing or causing such violation.

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